Hi,

Differences between Value of Statistical Life (VSL) and Willingness to Pay:

For your question, kindly refer the following links.

http://yosemite.epa.gov/EE%5Cepa%5Ceed.nsf/webpages/MortalityRiskValuation.html

http://cgu.edu/PDFFiles/SPE/Behavior%20Econ%20Seminars/2012/Equality%20WTAWTP%2022012.pdf

http://www.rff.org/files/sharepoint/WorkImages/Download/RFF-DP-07-05.pdf

http://www2.toulouse.inra.fr/lerna/treich/VSL.pdf

http://pages.uoregon.edu/cameron/vita/Cameron_DeShazo_Johnson_0619091.pdf

http://www.law.harvard.edu/programs/olin_center/papers/pdf/Viscusi_517.pdf

https://law.vanderbilt.edu/files/archive/270_Age-Differences-in-VSL-Revealed-Preference-Evidence.pdf

Thanks!